Latest Business News
Budgeting for the unknown – Contingency strategies and tips for businesses
No matter how well-prepared you may think you are, things will not always go to plan. It could be a sudden shift in the market, supply chain disruptions, unexpected repairs to your office or equipment, or even a personal emergency.
Optimising your credit control policies to deal with chronic late payers
Despite repeated calls for reform, the Government has shown little support for tackling chronic late payments, leaving businesses to fend for themselves. One effective solution is to tighten your credit control policies to manage the issue. Strengthening credit control A
Fur and finance – Tax compliance in animal sales
If breeding and selling animals has turned into a source of income for you, you need to make sure your earnings are declared correctly to HM Revenue & Customs (HMRC). You can earn up to £1,000 annually from casual trading
Is 2025 your year to incorporate? Here are our top tips
Nearly 900,000 companies were incorporated in 2024 – an 11.2 per cent increase compared to 2023. More entrepreneurs are recognising the benefits of limited companies. The advantages of limited companies include limited personal liability, mitigated taxation and greater exposure to
What are the risks with directors’ loans?
A director’s loan is money taken out of a company by a director that is not a salary, dividend, expense reimbursement or money that has previously been paid into or loaned to the company. A record of money borrowed or
Sole traders – Is there a benefit to van ownership?
As a sole trader, it is only natural to look for opportunities to save money and maximise your earnings. One effective strategy is to consider buying a van, as sole traders can benefit from tax deductions on business-related expenses through
Become an eco-conscious business – Taking advantage of Climate Change Agreements
Taking advantage of green tax reliefs is a good way to reduce how much Climate Change Levy tax (CCL) your business pays. To get these reliefs, your business will need to operate in a more environmentally friendly way. Any business
Confusion on savings interest – HMRC weighs in
HM Revenue & Customs (HMRC) has clarified that if your earnings from interest exceed £10,000, tax may apply depending on the account type. This clarification came when a customer reached out to the tax authority on X to see if
HMRC’s bookkeeping shake-up: New rules for 2025 and beyond!
As the 2025/26 tax year approaches, it brings several significant changes to HM Revenue & Customs’ (HMRC’s) rules that will impact your business operations, financial reporting, and tax management. Here is a quick rundown of the new rules that are
Christmas cheer or tax liability? How trivial benefits impact your business
With Christmas right around the corner, many of you might be looking into ways to spread the holiday cheer among your employees. Maybe you want to give a box of chocolates to your executive assistant or a bottle of wine